Bitcoin Forum

Everyone is hoping that bitcoin will continue to rise in price indefinitely.

They look at the growth from $0.003 to $18000 and think that bitcoin is unstoppable


Is everyone buying into a dream that is too good to be true? How can bitcoin go up over 6 million times its original value without approaching a bubble? A $100 investment in 2010 would be worth $600,000 dollars! Where the heck does that "value" even come from. Bitcoin produces no revenues and provides no tangible assets. How can a $100 investment be worth $600,000 after 7 years? You can't just make $600k from scratch without there being losers involved. So who are the losers going to be when this wild ride is all done?

I think once the bubble bursts, people will get stuck with their worthless digital currency and the dream will finally come to an end.


People are investing with their heart, not their brains.


This feels exactly like the dot-com bubble. Yes crypto and specifically the block chain are incredible innovations, and that is what is fueling such massive excitement. When the smoke clears, reality is going to smack a lot of people in the face. Investors need to start thinking about exit strategies. A ton of money is going to be made on crypto - IN BOTH DIRECTIONS. Go ahead and keep riding the wave up, but start getting prepared to also ride the wave down. Billions will be made in 2018 or later off of SHORTING crypto. The current prices, especially bitcoin and the major alts, are just unrealistic.

#CryptoCrash2018

Bitcoin investors are betting on the possibility of Bitcoin replace fiat as the primary currency. Imagine being among the first people to discover gold and owning the world's most valuable asset.

I have to say bitcoin is foam, but bitcoin is not a bubble. I think there will be many applications combined with bitcoin in the near future. It has an intrinsic value.

It does feel like people are delusional when it comes to this. Rich is a relative term. You can't be rich without someone being poor.

That same concept applies to bitcoin profits. Everyone can't make 1000x their money or more. There has to be losers. There's going to be a giant wakeup call whenever Bitcoin starts to trend down. I think the drop will be even faster than the rise was.

Bitcoin's boom in the market, explained by CNN's financial advisor, may be due to three reasons: First, the buying from Chinese investors is so great; Second, the belief that this currency will grow, pushing up the value of the currency; Third, buyers may be eagerly awaiting Goldman Sachs to buy and sell this currency

Exactly! When I argue with people whether bitcoin is bubble or not, I always mention dot-com bubble in late 90s. They are way to similar. I think that if the BTC price won't stop growing so fast the bubble will blow eventually.

"But when you take a hard look at the last few years, it’s hard to deny that the run-up is starting to look shaky. And compared with past events, the rise of cryptocurrencies has all the hallmarks of a disaster waiting to happen."

"Unsurprisingly, this one-dimensional view encourages a herd mentality. While early adopters tend to have at least peripheral knowledge of the investment in question, eventually those without any understanding of finance or investing are sucked in simply by the promise of returns. Case in point: Nearly 1 in 3 millennials would rather own bitcoin than stocks, according to a November report"

"If you’ve made a ton of money in bitcoin then good for you. But new money needs to know the state of play and heed these warning signs before simply jumping in. Because at best it’s a mature rally that has already achieved much of its gains, and at worst it’s a recipe for disaster as you buy at or near the top."

https://www.marketwatch.com/story/yes-the-rise-of-bitcoin-has-all-the-hallmarks-of-a-disaster-waiting-to-happen-2017-12-12

Its true that bitcoin is not backed by any assets.The main reason people like to invest in bitcoins is it has various positive factors.First it is free from the hands of government.So people find it to be a safe haven.Secondly,it could not be hacked when kept safely in a wallet.Thirdly it has a limited supply of only 21 million dollars unlike USD and gold which are found to be infinite.So its free from inflation.More over,increasing demand has made its price to skyrocket.All these factors have paved the way for bitcoin to reach such a high price in very small duration of time.

bitcoin does not have to be backed by any assets.
it is at the moment regulated by the rules of demand and supply.
the more people put their trust in it (bu acquiring it) the more its value will raise.

Yeah. Its not like fiat is backed by assets. That's not what this thread is really about though

How can a market cap increase 6 million times without any significant advancements in technology etc. Without anything tangible being created and without any real value added. It doesn't make sense. I don't think bitcoin can retain a price point that is 6 million times higher than it was 7 years ago. People are going to start cashing in eventually, and the price is going to plummet

There are two type of dream, 1 dreams of the day time, which can only be seen and never become into beings. It is totally the thinking. 2. The dream of midnight which has more chance to came into beings. The Bitcoin dream is better than those two because it is more possible with bitcoin that your dream become into beings if you work hard with bitcoin.So the dream of bitcoin is real but it need a hard work or invest in bitcoin.

WTF did I just try to read? Are you dreaming right now...

everybody is looking to get rich by just using bitcoin, and there is nothing new with this, you need to be ready to see thousands of replies in here about saying that bitcoin is the same thing, because they will always say the same.

Bitcoin has been changing a lot since it has been developed for the first time, it was going to be a new way to revolutionate money, but now it is a fast rich scheme for a lot of people.

 Real money is being cashed out to pay for mining expansion which will cause real environmental issues if this keeps up. I wonder what Bitcoin's contribution to global warming is, and how many people will ultimately lose their lives or homes as a result in the long run just from the idiotic waste of energy

The cryptocurrency has wowed markets this year with breakneck gains as investors flocked to an asset that exists only in cyberspace. But the laborious creation of each digital bitcoin by private computer networks has real-world consequences in the form of massive energy use -- including from fuels that cause the most pollution.

Eight 100-meter-long metal warehouses in northern China are a case in point. Bitmain Technologies Ltd. runs a server farm in Erdors, Inner Mongolia, with about 25,000 computers dedicated to solving the encrypted calculations that generate each bitcoin. The entire operation runs on electricity produced with coal, as do a growing number of cryptocurrency “mines” popping up in China.

(Source: Bloomberg)

I AM GLAD THAT YOU WILL BE BANNED SOON FROM HERE.


You are a piece of shit, you are not even entitled to have an account in here because we all know that you are a troll, IT IS DESPERATING TO SEE THAT THERE IS STILL PEOPLE REPLYING TO YOU.

They are only doing it in order to increase their activity, but they do not realize that you are just a fucking troll.

This dream can be really coming real in the following months. I never expected to see BTC this big in a short period growth.

What is valuable gold? The fact that it is metal, which in its natural form is found in nature and its very little on earth. It's just that people agreed that gold would be a measure of value. If now there were discovered large deposits of gold somewhere, it would have immediately depreciated, since it has no great internal value. Bitcoin is also similar in this respect to gold. It is limited to 21 million and the demand for it serves as a contract of people on the quantitative side of its measure of value. Bitcoin, on the one hand, can be called a financial bubble, and on the other - it grows according to the laws of the market.

There is all the prerequisites over the next fifteen years, over 50% of the world's population to use a bitcoin or other similar digital currency on a daily basis. Like Internet development, this technology is slow and difficult,but with time it becomes a desirable dream

You are quite right as to why people like to invest in bitcoin but the major reason for the patronage is because of its limited supply which $21 million. So, investors are mindful of that so that anytime it gets beyond that, it obviously means something has gone wrong.

In other words, Bitcoin limited supply also serve as a check to it

Well, yes the real value of Bitcoin is still a mystery, but the Bitcoin architectures have been trusted and known by the mainstream, so that's the answers why bitcoin is on hype right now. We all can agree on everything that goes up so fast, will go down in the same way. and I believe the panic seller will also help the correction is nastier.

Epic! ;D

Money is whatever a large network of people agree it is, whether that's stones, shiny beads, gold, silver, fiat, or bitcoin.  Market forces decide its value.  Increased capital flow into this new asset class and new user adoption pushes its value up.  Right now we're in the rapid rise along the S-curve but it won't last forever.  Don't wait!

To answer what it's worth, you have to answer "compared to what?"  Compared to fiat, bitcoin is exposing how terrible fiat currencies are.  They are designed to lose value over time, and to hold populations in a financial servitude to governments and the Banking Cabal.

IMO, if bitcoin reached a static equilibrium (as it will eventually), with the number of users and total capital flow static, it would still appreciate 5% - 10%+ per year compared to fiat, because fiat is so bad.  When that equilibrium is reached, my opinion is that BTC will stabilize in the $500k - $5M range.

crypto is the first honest money that any of us have seen in our lifetimes (even gold price is artificially suppressed).  crypto is a civilzation-changing paradigm shift and will be the largest transfer of wealth in history from the oligarchs to the crypto early adopters.

Of course that's all just my opinion!  ;-)

Shake off the doom-sayers!  The future is bright!

I wanted to make the comparison with the status of gold before fractional reserve banking, when the dollar was still backed by gold, because it means like all value was represented as an amount of gold, so will Bitcoin if it replaces the reserve currency.

Read carefully, that means all value in the world will be measured in Bitcoin and each satoshi of a Bitcoin represents a piece of value on earth.

What is the value of all things on earth combined? Depending on your definition, if you include broad money it's 80 trillion dollar. Now replace 80 trillion dollars with 21 million Bitcoin. That is your target price.

I agree with what you said here that there has to be losers but it is not losers but "small knowledge and just want to ride". These people are making others rich because they don't have knowledge in what they are putting there money on. They just invest and thinking that they will gain profit but suddenly, some or most will make a loss and the one who has knowledge about this cryptocurrency will win.

I watch a video on a youtube and said that bitcoin is a bubble with an explanation. I am 50-50 with is meaning partly agree and partly not. Partly agree because in the past histories we see the first bubble the tulips and that dot -com market bubble and there is a slight chance that it will happen too with bitcoin. On the other hand, I don't think that bitcoin is a bubble because of some reasons like the maximum supply of it, preventing inflation and the increasing demand of bitcoin makes the price higher. This is my opinion.

Our hope as a Bitcoin holder is to be patient. Be patient in seeing the ups and downs of prices, and be patient in the face of bad news about Bitcoin. And keep our Bitcoin from irresponsible hands.

I think anytime bitcoin will crash and someday, digital currency will be useless. I am afraid that bitcoin value will loose because all of my efforts and time will blow just in a second. Somehow, we must be optimist! Eventhough we not see and touch this digital currency, try to trust bitcoin. It is worth if someday, bitcoin will establish its legality around the world and that bubble thing will remove in the name of cryptocurrency. In future, bitcoin will be more realistic from what we've thought.

Once the demand does not rise anymore, and then people sell very very low just to make cash out of it, that is called bubble. Bitcoin will never bubble because it is the exit of all assets. People are migrating to the digital realm, an IT age from the farm age... People will develop every industry into an automated one, therefore, few years from now everything in this world will turn digital. Digital currency is the CURRENCY FOR THE DIGITAL WORLD.

Now, it is more appropriate to say that FIAT will bubble... including your stoooopid brain.

Wow he is really active answering every comment here.
What are you really trying ro achieve posting it here in a bitcoin forum itself?

You just explained blah blah blah but you have really no question inside all the trash talk you have made.

Cmon. Tell us the coin you are supporting then maybe we can have a look at it.

I think that life to be successful with the blink of an eye is not easy, but when I open and search on google so much success with abundant money and photographed diata luxury car, when I feel the dream of a sentence beyond reason thought, delayed dreams do not wake up, if you do not have bitcoin, I ended up falling asleep and dreaming.
 

Simply because they are not following one of the basics when it comes to investing which is investing only at your means. Needless to say they should invest only what they can afford not that I am doubting bitcoin of course.

I believe it is really hard to pin a value to bitcoin. One could argue that the more market cap it gains, the higher its value, because more people will take it seriously, like it will start attracting wealthier and wealthier people. In a sense that's exactly what's happening, it is getting ever more accepted as a store of value by an increasing amount of people.

After all, isn't this the definition of money? That people accept it as such, that people agree that it has value? Look at Bitcoin as a bank. When people buy Bitcoin, what they're really doing is they're buying a tiny space in the blockchain that says that the address that they own has X amount of value, that they're entitled to X amount of value. This is exactly what banks do. You deposit a $100 dollar bill in the bank, it vanishes with your piece of paper and at the same time it creates a record in their computer that you are entitled to $100 dollars.

As Bitcoin increases in valuer, its "credibility" is increasing in the eyes of many (it's what motivated me to get in and study the technology). Wealthy people won't put their money in the Bank of Zimbabwe, but they won't worry much about depositing it in Bank of America or some other fancy bank. What's better, the money one "deposits" in Bitcoin can't be found by governments and can't be taken away from you (if you take simple steps to secure it of course). This has tremendous value for many all over the world.



On a different note, this is my first post here, i have been following this website for a few months now and i just gotta say, what the hell with many posters here, it's like half of posters here seem like they're permanently stoned and drunk, writing meaningless ****, you gotta try so hard to understand what people are saying. I understand english may not be the first language (it isn't mine either) but do try a bit harder to pratice writing better instead of blindly using google translator to write ****. There, i had to vent this.

yes, but most people investing their money but they don't investigate or research of what they invest. they only follow what people say and without thinking how much money they will use as their investment. for people which know what they do, they are no doubt with bitcoin and they still invest their money even if the price is down and they don't panic to see this. if we decide to invest, then we need to find out everything related to the investment so we don't make any mistake in the future.

Dream
1btc = 1 000 000$

People will have dreams of grandeur with bitcoin as we have all seen the growth that bitcoin has had and it would be good to see it continue but we cannot guess where it will be in the years to come. Many of the newer people to bitcoin are only interested in the financial rewards that bitcoin has previously seen.

I also see if indeed now a lot of new people who jump in the world of cryptocurrency including hunting bitcoin just because they want to get a high price. but they do not know what the bitcoin is like and how bitcoin travel has until now.

Things That Became Bitcoin Nightmares
Delay Influential Transactions At Bitcoin Prices
Did the event of last week's transaction delay be Bitcoin's nightmare? The incident occurred precisely on Tuesday, March 1, 2016. Many delayed confirmation of Bitcoin transactions. The pending Bitcoin transaction is increasing. And quite quickly, it becomes an endemic problem in the Bitcoin ecosystem. In fact, this transaction delay lasts approximately a few days.

Bitcoin wont keep on raising forever,since this is a new form of currency and there is a huge interest in it and so is the reason the price is rising.

It is a fact that the price grew this much and this is not a dream right. :P So what is the issue now,you missed out when there was an opportunity.  :P

If you hold fiat currency and once that bubble burst you will be having color paper to keep yourself warm,that is a good idea right.No one is forcing anyone to buy these cryptos and what is the issue here,the fact that any asset gets its proper valuation when people are willing to spend money for it
and it is not like fiat currencies where government can print out any amount of notes according to their wish and in the case of bitcoin,it has limited amount of coins and it cannot be duplicated and that is the most important factor.

 

 Bitcoin can not be indicated by any asset, but people want to use Bitcoin for various possitive reasons. Firstly, it is an independent business that the government has no intervention and it feels safe to invest. Secondly it is a safe wallet because it is less likely to be hacked.
It's free from inflation. The dream of Bitcoin will be real when the whole world uses Bitcoin.

The bitcoin dream is real for sure and how to make it possible, that will depend on the person on how would he/she handle the investment. To fulfill such dream, this will take hardwork and perseverance  on how to make your investment succeed in the crypto market. I would consider that this time btc is at it's lower price and the right time to buy bitcoin now as this will soon to spike it's price further. Then, you must hold your btc up to several months or even a year.

When OP wrote this in December of 2017 there was indeed a bubble that occurred. The price was way up high too much that it was unnatural. I would say that the price should always be equated to how much it cost to produce one unit of asset. That is the true price of something. Bitcoins and other cryptocurrencies are like Gold. Gold has not a lot of uses, basically the price of gold was just brought about by the demand for it and not really its value as it is not so useful side from jewelry and as a status symbol. Basically if we remove the fact that Gold is shiny and people want it just because of being a status symbol and for jewelry, it would clearly be seen that the price of gold is also a bubble.

I think I could not even dream of seeing dreams if I did not have Bitcoin. When I did nothing my dreams were asleep. Bitcoin worked to make my dreams come true. So Bitcoin is a real dream for me.

First it is free from the hands of government.So people find it to be a safe haven.Secondly,it could not be hacked when kept safely in a wallet.Thirdly it has a limited supply of only 21 million dollars unlike USD and gold which are found to be infinite.So its free from inflation

Yes, we need be more patient in this kind of business, we know the price value of bitcoin is unstable, ups and downs and we face lot's of risk and challenge. So be calm and more patient to wait until the price value is increasing don't lose hope.

Bitcoin dreams is to spread throughout the whole world helps each countries more developed thier ecosystem provide faster transactions in the market place and give educational enrichment for the undeveloped countries.

I see no reason to be upset. Bitcoin is alive and this is the most important. Those who bought coins expensive did not lose their money. They only froze the money for a long time. I continue to receive income from investing in bitcoin. It brings in less revenue than before but I think it's temporary.

And now the number of people getting rich by bitcoin is far less than the number of people losing property from it.
Bitcoin is a dream for many, but it is a nightmare for more many people.

In my opinion, bitcoin dream is where people wishing for it to become more precious having a big price value and that people could own a great amount of btc on their digital wallets. To be able to achieve such dream, people should first trust and put their 100% support with bitcoin no matter what happen. Patience is also important especially if you are investing btc since you need to wait long for it until btc could recover and grow further beyond heights. With this, bitcoin dream could be achieved by the people who had trust and fully supported bitcoin all the way.

Yes, bitcoin makes our dreams come true. I join in investing in bitcoin cause my son told me about in bitcoin cause I want to help my husband to raise our family and give our children a better life and bitcoin is the answer cause it give me hope and opportunity to earn more profit in my investment . My dreams to give the better life for my family bitcoin give that I am so thankful to met bitcoin.

What are you talking about? Read the latest news. The losers will be those who do not invest in Bitcoin and will be forced to buy it at a very high price, when all of it will be actively used when paying for goods and services.

We have a huge number of people who are hoping that Bitcoin will change their life, no doubt I am one of them and honestly speaking it has changed my lifestyle. Everyone here has their own story of how they get into it. But we are progressing, there comes good and band time in every business and so is the case with Bitcoin but people have not lose hope. In fact people are getting experience to handle the dip of Bitcoin.

It is increasingly accepted as a valuable outlet by an increasing number of people. People accept it so, that people agree that it's worth it? When people buy Bitcoin, what they are actually doing is they are buying a small space in the blockchain that says that the address they own has an X value, that they are entitled to X value amounts. You send a 100 dollar bill in the bank, it disappears with your piece of paper and at the same time it creates a record in their computer that you get 100 dollars. The rich will not put money into Zimbabwe, but they will not worry much about sending money to Bank of America or some other favorite banks. This has tremendous value for many people around the world. They just follow what people say and do not think how much money they will use as their investment. If we decide to invest, then we need to find out everything related to the investment so that we do not make mistakes in the future.

Bitcoin is a dream to every person who has no investment yet and most of the people were aspiring even to have 1 btc in their wallet. Moreover, BTC has been successful in the market but it is not that early to earn promising profit in a very short period of time. I believe that the most successful investment is good for longer period as as this is more effective to earn greater profit.

the dream of bitcoin is to become the world number 1 currency. and bitcoin is also not prohibited by developed countries. the government must allow investment easily. and those who use bitcoin will feel comfortable.

Bitcoin is a dream because it can create millionaires and it is the future of the digital money. It is all the more attractive for some people because it has potential to frauds and misuse which is exactly why people use it impatiently and to satisfy their greed. If the market can put some measures to control such activities so that people can invest for longer periods without getting panic owning a Bitcoin will be a dream.

Bitcoin not only  vertual crypto currency but also it's promising asset. Bitcoin have lot of advantages. Bitcoin have enough opportunities that gives lot of opportunities earn money. so you can using it and made a good life. Bitcoin is my dream. I using it. I believe that, Bitcoin will change my life and my economy problem.

Bitcoin is a very promising asset. I know in the futurr, it will be used in so many things. Aside from giving us opportunities to earn, we can also use this in other things like the fiat money do today.

It is an independent business that the government does not intervene and feel safe when investing. It has no inflation. The bitcoin dream is really solid and how to make it possible, which will depend on who on how he / she handles the investment. I would consider that this btc time is at a lower price and the right time to buy bitcoin now as this will soon spike its price even further.

Reality sucks. If we'll see the graph history of the market for the past weeks and months. Bitcoin's price did not go well as expected. It is playing just around the corner of 6-7.5k Wih lowest of 5.8k and highest of 8k before. How disappointing but it will not go to burst like what you've said.

Many people who invested some of their hard earned money are pinning their hope on bitcoin to become millionaires someday. These people had their own kind of bitcoin dream but this dream is temporarily halted because of continuing bearish market and it may take years before the top coin return to recovery again. If you believe that bitcoin will someday make another all-time high then hold on to your dream and patiently wait for it.

well, the whole bitcoin thing as been based on speculations and dreams as people predict anything that comes to their mind. Not withstanding, believing in the bitcoin idea is the ultimate thing to do. Whether bitcoin gets to $600, 000 or not the ideology behind bitcoin is what we stand for

It has been a dream for more number of investors and people that by investing in Bitcoin can make them millionaire and it is true. Few of the people have became millionaire few years ago by investing in BTC. Hence more people are dreaming on bitcoin   prices went down and lot of people started using btc as payment wallet and most countries are approving it. Bitcoin is a dream because it can create millionaires and it is the future of the digital money.

And this is the problem why bitcoin or other crypto currencies cannot develop completely. People here are more interested in the money. They think bitcoin is the gateway to get rich real quick overnight. Hence, they are just after the value, instead of helping in development of the currency. If people stop running after the value and start giving effort on adopting the currency, we would be able to see its full potential and the value of the coin will start rising on itself.

The bitcoin dream is still much alive and even now more stronger

I see beyond this price drop and anticipate a record breaking new heights although critics has the opposition to this thought